Outro

UBS is reportedly closing down not one but two hedge funds, in a more that raises a lot of questions but also some very uncomfortable parallels to 2007. One of those funds is exposed to First Brands, so understandable. The other...isn't. And that raises the prospect of the R-word; in this case, that does not stand for recession, rather its uglier monetary twin. 

Bloomberg UBS Winds Down O’Connor Funds in Sign of First Brands Strain
https://www.bloomberg.com/news/articles/2025-11-06/ubs-to-wind-down-o-connor-funds-with-first-brands-exposure

NYT $3.2 Billion Move by Bear Stearns to Rescue Fund
https://www.nytimes.com/2007/06/23/business/23bond.html

https://eurodollar.university